Citigroup Cuts InterContinental Hotels Group (LON:IHG) Price Target to GBX 7,500

InterContinental Hotels Group (LON:IHG) had its price target decreased by Citigroup from GBX 8,900 ($118.08) to GBX 7,500 ($99.51) in a research note released on Tuesday morning, MarketBeat Ratings reports. Citigroup currently has a sell rating on the stock.

IHG has been the topic of several other research reports. Jefferies Financial Group reissued a “hold” rating and issued a GBX 95 ($1.26) price target on shares of InterContinental Hotels Group in a report on Tuesday, February 18th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a GBX 7,800 ($103.49) target price on shares of InterContinental Hotels Group in a research report on Thursday, February 20th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of GBX 6,159 ($81.72).

InterContinental Hotels Group Price Performance

IHG opened at GBX 7,592 ($100.73) on Tuesday. The company has a quick ratio of 1.35, a current ratio of 0.85 and a debt-to-equity ratio of -162.30. The company’s 50-day moving average price is GBX 8,855.85 and its 200 day moving average price is GBX 9,247.41. InterContinental Hotels Group has a fifty-two week low of GBX 7,032 ($93.30) and a fifty-two week high of £109.75 ($145.61). The firm has a market cap of £15.22 billion, a price-to-earnings ratio of 24.92, a price-to-earnings-growth ratio of 1.69 and a beta of 0.98.

InterContinental Hotels Group Increases Dividend

The firm also recently declared a dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 3rd will be issued a dividend of $1.14 per share. This represents a dividend yield of 1.03%. This is a positive change from InterContinental Hotels Group’s previous dividend of $0.53. The ex-dividend date is Thursday, April 3rd. InterContinental Hotels Group’s dividend payout ratio (DPR) is 41.03%.

Insider Buying and Selling

In related news, insider Byron Elmer Grote acquired 400 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were acquired at an average price of £127.25 ($168.83) per share, for a total transaction of £50,900 ($67,533.50). Corporate insiders own 5.99% of the company’s stock.

About InterContinental Hotels Group

Our presence
IHG® Hotels & Resorts is a global hospitality company,
with 19 hotel brands, one of the industry’s largest
loyalty programmes, over 6,300 open hotels in more
than 100 countries, and a further 1,800 hotels in our
development pipeline.

Our ambition
To deliver industry-leading growth in our scale,
enterprise platform and performance, doing so
sustainably for all stakeholders, including our hotel
owners, guests and society as a whole.

Our strategy
To use our scale and expertise to create the
exceptional guest experiences and owner returns
needed to grow our brands in the industry’s most
valuable markets and segments.